UniCredit announces that Zagrebačka banka d.d. ("the Bank",) has concluded an agreement with APS Delta s.r.o. (owned by APS Holding a.s., Czech Republic) in relation to the disposal of a portfolio composed by fully impaired and partially impaired loans granted to corporate and private individual customers, for a total gross balance sheet exposure HRK 3,34bn on 30.04.2014 (equivalent to approximately Euro 450mn) (the "Agreement").
The Agreement has been signed upon obtaining a positive opinion by the Croatian National Bank on complying with the conditions for sale of material amount of placements.
The sale is part of the overall UniCredit Group's on-going strategy to reduce non performing exposure.
The P&L impact will be reflected in the second quarter 2017 financial statements [1].
Milan/Zagreb, 22 May, 2017
Note
[1] already signed off and classified as held for sale in 1q17 results
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